Currencies
Thursday, April 26, 2012
Rupee
RUPEE: (Extended beyond Expectation)
Rupee extended way beyond target levels expectation of $ 50.60 as per earlier outlook of 09/02/2012. It made high of $52.86 on 24\04\2012. It’s trading around $52.55 today.
It looks like strong resistance at upper level target of $53.50 in short term.
It has strong support/reversal around $51.30 in short term.
One should watch it out RUPEE behavior in short term in this range. Breakout from this range at either of side will further confirm overall medium term trend for it.
One should Long with SL-$51.30 for tgt-$53.50 in short term.
It looks like strong resistance at upper level target of $53.50 in short term.
It has strong support/reversal around $51.30 in short term.
One should watch it out RUPEE behavior in short term in this range. Breakout from this range at either of side will further confirm overall medium term trend for it.
One should Long with SL-$51.30 for tgt-$53.50 in short term.
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Indian Rupee Exchange Rate